Brick Duplex with Separate
For Sale
$275,000
343 Phelps St, Scranton, PA 18509
Fully rented brick duplex with separate entrances and utilities, with tenants paying gas and electric.
Property Size2,000 SF
Price / SF$137.50
Days on Market70
Property Features for 343 Phelps St
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Building Details
Buildings
1
Construction
Brick
Listing Agency:
ERA One Source Realty
(570) 877-2778
Listed By:
Manju Verma · License #RS375147
(570) 877-2778
Source:
Exprealty
Added: May 25
Changed: Jul 31
Last Checked: Jul 31 at 6:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ERA One Source Realty
Investment Insights
Based on property information with market context.
This brick duplex is fully rented and set up for tenant convenience with separate utilities and separate entrances. Tenant payments include gas and electric, which helps keep operating structure straightforward.
Unit 1 offers two bedrooms plus a study room, along with a living room, kitchen, one bathroom, and a patio. Unit 2 includes three bedrooms, a living room, kitchen, one bathroom, and a backyard.
The property is positioned close to major hospitals, universities, and medical buildings, and it is described as walkable to grocery stores, downtown Scranton, and restaurants. It also notes about a 5-minute drive to Viewmont and Steamtown Malls, supporting steady day-to-day demand for nearby services and amenities.
Unit 1 offers two bedrooms plus a study room, along with a living room, kitchen, one bathroom, and a patio. Unit 2 includes three bedrooms, a living room, kitchen, one bathroom, and a backyard.
The property is positioned close to major hospitals, universities, and medical buildings, and it is described as walkable to grocery stores, downtown Scranton, and restaurants. It also notes about a 5-minute drive to Viewmont and Steamtown Malls, supporting steady day-to-day demand for nearby services and amenities.
Key Highlights
- Brick duplex, fully rented
- Separate utilities and separate entrance for each unit
- Tenants pay gas and electric
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $25.2k | $12.60 |
| − Vacancy | −$1.6k | −$0.82 |
| EGI | $23.6k | $11.78 |
| − OpEx | −$7.1k | −$3.53 |
| NOI | $16.5k | $8.25 |
2,000 SF · lease $12.60/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$235.6K
$206.2K – $274.9K
NOI $16,493 @ 7.0% cap · market cap 6.00%
Second Best
Apartment 5plus
$220.3K
$192.7K – $257.0K
NOI $15,419 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$507.6K
$444.2K – $592.3K
NOI $35,535 @ 7.0% cap · market cap 12.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,131
Businesses Nearby
Explore this area
Business Placement
Demographics for 18509, PA
13,720
Population
6,017
Households
2.3
Avg Household Size
39
Median Age
28%
College-Educated
90%
High-School Grad
3.0 sq mi
ZIP Area
4,573
Density / Sq Mi
$52,206
Median Household Income
$31,657
Median Earnings
$991
Median Rent
$176,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Fully rented brick duplex with separate entrances and utilities, with tenants paying gas and electric.
Where is this duplex located?
The property is located at 343 Phelps St Scranton, PA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Brick duplex, fully rented; Separate utilities and separate entrance for each unit; Tenants pay gas and electric
